### Transcription for Educational Website**Machine Setup Process Overview:**The total setup time is 140 minutes, comprising the following steps:1. **Turn off machine and remove fixture from lathe** - 15 minutes2. **Go to tool room with fixture** - 15 minutes3. **Record replacement of fixture to tool room** - 18 minutes4. **Return to lathe** - 20 minutes5. **Clean lathe** - 20 minutes6. **Return to tool room** - 20 minutes7. **Record withdrawal of new fixture from tool room** - 12 minutes8. **Return to lathe** - 15 minutes9. **Install new fixture and turn on machine** - 5 minutes**Total setup time: 140 minutes**---**Section A: Discussion on Setup Time Reduction**A company plans to set up a machine to increase productivity. The average setup time is 140 minutes. Do you think the management needs to minimize the setup time? Identify the reason that supports your answer.- **Yes**- **No****Reason:**a. The setup time is not a concern for the company as it is not related to the productivity of the company.b. The setup time should be considered because long setup time leads to increased economic cost of the setup.c. The cost incurred for setup can be ignored as it is related to machinery.d. Long setup cost can be recovered as depreciation.---**Section B: Evaluating Setup Time Control Strategies**A company plans to set up a machine to improve productivity. The average setup time is 140 minutes. The company wishes to control the setup time. Identify the statement that suits the given situation.a. Identify the wait time and non-value-added time and eliminate that with effective planning so that the setup time can be reduced.b. Identify the machine that has less setup time.c. Identify the laborers who are contributing less to the setup process and eliminate them from the process.d. None of the above.---**Section C: Calculating Adjusted Setup Time****Question:** How much time would be required for a setup, using your suggestion in (b)?**Input:** _____ minutes

Setup time is the interval needed to adjust the settings on a machine, so that it is ready to process a job. Shortening the amount of setup time is critical for engaging in short production runs, so that a business can more easily engage in just-in-time production.a). A company plans to setup a machine to increase the productivity. The average setup time is 140 minutes. Do you think the management needs to minimize the setup time. Identify the reason that supports the answer. YES Reason:- The setup time should be considered because long setup time leads to increased economic cost of the setup. b).A company plans to setup a machine to increase the productivity. The average setup time is 140 minutes. The company wishes to control the setup time. Identify the statement that suits the given situation. Identify the wait time and non-value-added time and eliminate that with effective planning so that the setup time can be reduced c). How much time would be required for a setup, using your suggestion in (b)? $100_ minutes

Business

Accounting

time has been 140 minutes, consisting of the following steps: Turn off machine and remove fixture from lathe Go to tool room with fixture Record replacement of fixture to tool room Return to lathe Clean lathe Return to tool room Record withdrawal of new fixture from tool room Return to lathe Install new fixture and turn on machine Total setup time 15 minutes 15 18 Reason: 20 20 20 12 15 5 140 minutes a. A company plans to setup a machine to increase the productivity. The average setup time is 140 minutes. Do you think the management needs to minimize the setup time. Identify the reason that supports the answer. a. Yes b. No

time has been 140 minutes, consisting of the following steps: Turn off machine and remove fixture from lathe Go to tool room with fixture Record replacement of fixture to tool room Return to lathe Clean lathe Return to tool room Record withdrawal of new fixture from tool room Return to lathe Install new fixture and turn on machine Total setup time 15 minutes 15 18 Reason: 20 20 20 12 15 5 140 minutes a. A company plans to setup a machine to increase the productivity. The average setup time is 140 minutes. Do you think the management needs to minimize the setup time. Identify the reason that supports the answer. a. Yes b. No

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The production department is proposing the purchase of an automatic insertion machine. It has identified three machines and has asked the accountant to analyze them to determine which one has the best average rate of return. Line Item Description Machine A Machine B Machine C Estimated average income $47,060.44 $72,961.50 $73,785.60 Average investment 336,146.00 243,205.00 491,904.00 a. Machine C b. Machine A c. Machines B and C have the same preferred average rate of return. d. Machine B
Christmas Express makes wreaths in batch sizes of 23. The cutting and assembly process takes 4 minutes per wreath, and the decorating process time is 12 minutes per wreath. It takes minutes to move the wreaths from the cutting and assembly process to the decorating process. a. Compute the value-added, non-value-added, and total lead times of the wreath process. Value-added lead time Non-value-added lead time: Move time Within-batch wait time minutes Total lead time b. Compute the value-added ratio. Round to one decimal place. % minutes
Waterway has recently started to manufacture RecRobo, a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone. The cost structure to manufacture 19,900 RecRobos is as follows: Cost Direct materials ($45 per robot) $895,500 Direct labor ($31 per robot) 616,900 Variable overhead ($8 per robot) 159,200 Allocated fixed overhead ($23 per robot) 457,700 Total $2,129,300 Waterway is approached by Cinrich Inc., which offers to make RecRobo for $83 per unit or $1,651,700. Using incremental analysis, determine whether Waterway should accept this offer under this following independent assumption: (see attachement). In attachement: see dropdown options. Please don't forget to answer: should the offer be accepted or not.
Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour for each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $14.50. A. What are the standard hours per chest? Standard hour per chest fill in the blank 1 hours B. What is the standard cost per chest for labor? Round your answer to two decimal places. Standard cost per chest $fill in the blank 2
A cell-phone repair shop consists of three processes. Step 1 requires 6 minutes per unit, step 2 requires 5 minutes per unit and step 3 requires 7 minutes per unit. 30% of units that complete the third step require rework, which means those units must start the process over at step 2 (processing times are the same for units being reworked) and rework is always successful. Demand at the shop is 0.5 units per minute. Instruction: Round your answer to three decimal places. What is the capacity of the shop (in units per units per minute)? units per minute
Christmas Express makes wreaths in batch sizes of 16. The cutting and assembly process takes 3 minutes per wreath, and the decorating process time is 14 minutes per wreath. It takes 6 minutes to move the wreaths from the cutting and assembly process to the decorating process. a. Compute the value-added, non-value-added, and total lead times of the wreath process. Value-added lead time minutes Non-value-added lead time: Move time Within-batch wait time Total lead time minutes b. Compute the value-added ratio. Round to one decimal place.